Laserfiche WebLink
Page 2 <br /> on any other committee. Ms. Greelish stated that the town by-law <br /> needed to be amended so that a FinComm member could sit on the <br /> Capital Improvement Committee. <br /> Bill Matiros, Director, Mashpee Taxpayers Association, was present <br /> at the meeting and mentioned that the town could possibly save 25 <br /> or 30% on costs by purchasing gasoline through the County <br /> Government for town vehicles. The new Council on Aging Building <br /> was mentioned and whether or not converting to gas rather than an <br /> electric water heater would save money. <br /> Members agreed that should back up information be needed from a <br /> certain department, it would be up to the liaison to that <br /> department to get the needed information. Should a department want <br /> to meet with the Finance Committee, they would be able to do so by <br /> signing up for a particular meeting date and time, as they did last <br /> year. Mr. Baker stated that the committee needed to set up a <br /> working session with the Board of Selectmen and department heads <br /> regarding a Capital schedule. Ms. Greelish prepared a list of <br /> insured town vehicles. The list described what vehicles each <br /> department had; the cost of it new; the approximate life <br /> expectancy; the replacement year; what the town needs to set aside <br /> each year; and the year it will need to be replaced approximately. <br /> (A Copy is attached) . Ms. Greelish asked whether the committee <br /> felt she should go to the Selectmen to mention that the town needed <br /> to set aside money in the Stabilization Account for new vehicles <br /> and to save for the future. She stated that the committee knew <br /> that at least $250,000 would be needed each year for Stabilization <br /> just for new vehicles. Ed agreed that we need an average number <br /> set aside each year, increased by 1% for inflation. Deirdre felt <br /> that the committee should go to the Selectmen with a capital <br /> report, requesting a certain amount of money go into a capital <br /> replacement account. Members decided that the three things Ms. <br /> Greelish would discuss with Selectmen would be 1. that all free <br /> cash go into the Stabilization Account; 2 . $250,000 would go into <br /> a Capital Replacement Costs Account; and 3 . 1% of levy would be set <br /> aside. The total of all revenues the Executive Secretary has <br /> listed in his analysis of available revenues for FY94 is <br /> $18,763,520 . The FinComm wants approximately $250,000 placed, not <br /> including free cash into a Capital Replacement Account. We want <br /> $136,000, which is 1% set aside in the Stabilization Account for <br /> the future so that we have $18, 377,520 to spend. This is $386,000 <br /> less than the Executive Secretary wanted to spend on the operation <br /> of the government. We also want $328,000 of free cash or whatever <br /> is left after the Special Town Meeting up until the Annual Town <br /> Meeting not included in his revenue. Mr. Goggin mentioned that <br /> there is also other major capital needs besides vehicles. <br /> John Ferriday MOTIONED to see if the town will vote to instruct its <br /> representative in the General Court to file a bill in the <br /> Legislature, in the form of a home rule petition to establish a <br /> Town of Mashpoe Major Capital Fund. The purpose of said fund to <br />